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In many respects, the investment trust was the progenitor of the investment company in the U.S. The name is somewhat misleading, given that (according to law) an investment trust is not in fact a  trust  in the legal sense at all, but a separate legal person or a company.This matters for the fiduciary duties owed by the trustees and the equitable ownership of the fund's assets.he first investment trust was the Foreign & Colonial Investment Trust, started in 1868 to give the investor of moderate means the same advantages as the large capitalists in diminishing the risk of spreading the investment over a number of stocks.
A trust is a way of managing assets (money, investments, land or buildings) for people. There are different types of trusts and they are taxed differently. Trusts involve: the âsettlorâ - the person who puts assets into a trust. the âtrusteeâ - the person who manages the trust.